If You Trade with a Plan, Are You a “Discretionary” Trader?

February 8th, 2008

Take a look at the great conversation going on the post on the worse of two trading mistakes.

John Forman (whom we interviewed a while back) makes some excellent points about trading mistakes along with continuing a good metaphor that Eyal started.

My question is:

If you trade according to a plan and never veer from it, are you really a discretionary trader? Or are you your own Automated Trading System? Can you be a discretionary trader with a plan? Just how much wiggle room (read: discretion) is there in your trading plan?

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